5 Key Takeaways on the Road to Dominating Letters
How To Write A Hardship Letter
For anybody looking for a hardship template for a hardship letter look no more. The letter that is written here below is the basic template which you can personalize and make additions as you like. A hardship letter can be used to apply successfully for a modification of a loan and hold the process of foreclosure.
Soonest you realize that you are behind payments of your monthly mortgage and fear that a foreclosure could be coming up, you need to call or visit your financial institution with whom your mortgage is. It is likely that you will be asked to write a hardship letter so that the foreclosure can be stopped. The same letter is able to enable a short sale to your home.Hardship letter are personal coercion to your financial institution letting them know of your inability to service the loan and the reason behind this. It might sound easy, isn’t it? In a hardship letter there is a lot more than just pleading with them to hold the foreclosures. A hardship letter is also important when requesting the bank for a loan modification. This is the time you have to appeal to the bank to end the foreclosure process of your home and endorse the loan modification.
You will find the format on how to write a hardship letter.
Name: Should be your full name as it appears on your papers for the mortgage.
Address: indicate your current address where your mortgage is at.
Financial institution’s name: Enter it here.
Your loan number: Enter your mortgage number as it appears on the papers.
To Whom It May Concern: Enter the name of the person or firm that is mitigating for you.
The aim of this letter is to inform you of the sequence of events that have caused my inability to honor our obligation on the mortgage payments. Regardless of our efforts to pay the mortgage we realize we are still very far behind. We hope you will help us by approving our loan modification. We will be happy if you can do all you do to help us.
The main reason why we have been late in paying the mortgage payments is, (enter your reason here, be clear and precise ).
We know that if you approve for us the loan modification we would all benefit. We request if you would work with us to lessen the monthly payments that we have been making to enable us to stay at our home until such time as when we will be able to honor our mortgage payments.
We remain waiting for your help and also how to move on with the matter.
The last bit requires you to sign, write your full name and the date.